White House economic advisor Larry Kudlow said Monday that a “second wave” of coronavirus cases isn’t coming and that lawmakers will likely develop another stimulus package to support the economy by the end of next month.

Asked by CNBC’s Becky Quick how he’s thinking about resurgences of Covid-19 cases in select states across the country, Kudlow said he isn’t too concerned.

“There is no second wave coming. It’s just hotspots. They send in CDC teams, we’ve got the testing procedures, we’ve got the diagnostics, we’ve got the PPE. And so I really think it’s a pretty good situation,” said Kudlow, the director of the National Economic Council and chief advisor to President Donald Trump.

“Actually, I think nationwide the positivity rate is still quite low, well under 10%,” Kudlow added.

His comments to “Squawk Box” came after the U.S. reported more than 30,000 new coronavirus cases on Friday and Saturday, the highest daily totals since May 1, per Johns Hopkins University data. New cases are rising in states in the South, West and Midwest, including Florida and South Carolina, which both last week notched their third consecutive day breaking single-day records. 

Health officials have warned that upswings in new cases

Wirecard AG was left fighting for survival after acknowledging that 1.9 billion euros ($2.1 billion) that it had reported as assets probably don’t exist, deepening an accounting scandal that has rattled Germany’s financial industry.

The payments processor said it’s in discussions with creditors and considering a full-scale restructuring after pulling its financial results for fiscal 2019 and the first quarter of 2020. Previous descriptions of its business with third parties, which process transactions on Wirecard’s behalf, were “not correct.”

Even before the early Monday statement, the unfolding scandal had seen Wirecard’s shares and bonds collapse, its chief executive depart, and left the company renegotiating debt terms with its lenders. In less than a week, the fintech once hyped as the future of German finance has lost almost 90% of its market value, with the shares slumping for a third trading day on Monday.

“It’s a complete disaster we’re looking at,” said Felix Hufeld, head of BaFin, Germany’s top financial regulator, at a panel discussion Monday. “It’s a shame that something like that happened.”

Wirecard said it was in “constructive discussions” with its lending banks, including the extension of lines coming due at the end of June. It is …

This is an installment of Startup Year One, a special series of interviews with founders about the major lessons they have learned in the immediate aftermath of their businesses’ first year of operation.

This year began auspiciously for The Coven, a Minneapolis-based women’s coworking startup that aims to be an inclusive, middle-America rival to The Wing. Then almost everything went awry.

Founded by four women who met working in advertising, and who bonded over that industry’s failures to create equitable and inclusive workplaces, The Coven opened its first location for women and nonbinary and trans people in 2018. By late January, the startup had opened a second location in neighboring St. Paul and was eyeing an expansion to Nashville later this year.

Cue the pandemic, which temporarily shut down The Coven’s two existing locations and undermined its ambitious growth plans. CEO Alex West Steinman and her cofounders quickly pivoted into digital memberships and events—which have been popular, if not as lucrative as they once hoped 2020 would be.

“We’re still in the middle, and it looks really messy,” Steinman told Fortune earlier this month. “It’s not even like we’re stepping back into anything that looks familiar. We’re stepping …